Goldstein Scorecard: B- (dated October 4, 2026). See how it is graded.
National Life Group Indexed Annuities Review: Zenith Growth 10, Growth Driver 10, Flex Secure Growth, and the “Summit” Question
Written & reviewed by Hans Goldstein, Independent Licensed Insurance Producer · CA license 4273294 · NPN 20602398Facts verified against National Life Group brochures TC8803093, TC8845143, TC8766189 and nationallife.com on October 4, 2026 · Updated
National Life Group does not sell an annuity called “Summit.” Its fixed indexed annuities are issued by Life Insurance Company of the Southwest (AM Best A+, Superior, per National Life Group on October 4, 2026). For accumulation the current line is Zenith Growth 10, Growth Driver 10 (10% premium bonus) and Flex Secure Growth. Zenith Growth 10 takes $25,000 minimum, has withdrawal charges from 8.25% falling to 0% in year 10, and 10% free withdrawals from year two. Current caps are not published.
Correction (October 4, 2026): an earlier version of this page was titled “National Life Group Summit FIA Review (2026)” and described 7, 10 and 14 year variants, “strong cap rates” and a Sentinel Life subsidiary. National Life Group does not sell a product by that name: its annuities page lists Zenith Growth, Growth Driver, Zenith Income, Income Driver, Flex Secure Growth, Flex Secure Growth Bonus and Flex Select Income as its indexed annuities. This page now reviews the accumulation products, from the Zenith Growth 10 brochure and sister brochures. The Weiss, COMDEX, KBRA, renewal-tier and customer-service grades and the star rating were removed.
What National Life Group sells in indexed annuities
National Life Group is a trade name for National Life Insurance Company (Montpelier, Vermont) and its affiliates. Its indexed annuities are issued by Life Insurance Company of the Southwest (Addison, Texas), which is not an authorized insurer in New York. Each company is responsible for its own financial condition and contractual obligations, per the brochures.
| Indexed annuity | Premium type | Focus |
|---|---|---|
| Zenith Growth 10 | Single premium | Accumulation, no bonus |
| Growth Driver 10 | Single premium | Accumulation, 10% premium bonus with recapture |
| Zenith Income | Single premium | Income |
| Income Driver | Single premium | Income |
| Flex Secure Growth | Flexible premium (5-, 7- or 10-year policy) | Accumulation, often used in 403(b)/457(b) plans |
| Flex Secure Growth Bonus | Flexible premium (10-year policy) | Accumulation, 5% bonus on premiums in years 1 to 8 |
| Flex Select Income | Flexible premium | Income |
FIT Secure Growth, a name sometimes listed for an older flexible premium product, is not on the current annuities page. National Life Group’s fixed (non-indexed) annuities, including Green Mountain Freedom, are covered separately: see the Green Mountain Freedom review.
Zenith Growth 10, Growth Driver 10 and Flex Secure Growth: contract basics
| Feature | Zenith Growth 10 | Growth Driver 10 | Flex Secure Growth (10-year) |
|---|---|---|---|
| Issue ages | 0 to 85 | 0 to 75 | 0 to 85 |
| Minimum premium | $25,000 | $25,000 | $100 a month or $5,000 single |
| Maximum premium | $2,000,000 to age 70; $1,500,000 at 71 to 75; $1,000,000 at 76 to 80; $500,000 at 81 to 85 | $2,000,000 to age 70; lower above | Cumulative $2,000,000 to age 70, stepping down to $500,000 at 81 to 85; $50,000 a year limit from year 6 |
| Premium bonus | None | 10%, also on premiums added within 90 days | None (Bonus version: 5% on premiums in years 1 to 8) |
| Withdrawal charges, years 1 to 10 | 8.25%, 8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%, 0% | 8.25%, 8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%, 0% | 8.25%, 8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%, 0% (5-year policy: none from year 6; 7-year: none from year 8) |
| Bonus recapture, years 1 to 10 | None | 90%, 80%, 70%, 60%, 50%, 40%, 30%, 20%, 10%, 0% | None |
| Market value adjustment | Yes, on excess withdrawals in the first 10 policy years | Yes, on excess withdrawals in the first 10 policy years | Yes (in California, first 7 years of a 10-year policy) |
| Penalty-free withdrawals | 10% of accumulation value a year from year 2 | 10% of accumulation value a year from year 2 | 10% a year from year 2; RMDs free of charges from year 2 |
| Rate Booster (optional) | 1% annual charge for higher caps or participation, charged even when no interest is credited | Same, 1% | Same, 1% |
| Crediting options | 1-year and 2-year index options, performance trigger, declared (fixed) option | 1-year and 2-year index options, performance trigger, declared option | 1-year point-to-point options, performance trigger, fixed account |
| Current caps and participation rates | Not publicly disclosed | Not publicly disclosed | Not publicly disclosed |
| Minimum caps and participation rates | Not publicly disclosed | Not publicly disclosed | Not publicly disclosed |
Index interest is never less than 0% for a crediting period, and any contractual guarantees are backed by the claims-paying ability of Life Insurance Company of the Southwest. Withdrawal charges, bonus recapture and the MVA can reduce what you receive if you leave early. A performance trigger option credits a declared rate whenever the index is flat or up over the period.
Goldstein Scorecard (dated October 4, 2026)
| Dimension | Grade | Basis (sourced fact) |
|---|---|---|
| Financial strength | A | AM Best A+ (Superior), S&P A+ (Strong), Moody’s A1 (Good) for National Life Insurance Company and Life Insurance Company of the Southwest, per National Life Group’s ratings page (checked October 4, 2026; brochure dated May 1, 2026). |
| Rate or cap competitiveness | Incomplete | No current caps or participation rates are published, so they cannot be compared with the dated MYGA benchmark. |
| Guaranteed floor | Incomplete | The brochures state only a 0% floor on index credits; minimum caps, participation rates and the fixed rate minimum are not public. |
| Liquidity | C+ | Charges from 8.25% end after year 9, MVA on excess withdrawals for 10 years, 10% free from year 2, nursing care and terminal illness riders. Flex Secure Growth also offers 5- and 7-year policies. |
| Costs | B | No base contract fee listed; optional Rate Booster costs 1% a year and is charged even in periods with no interest. |
| Transparency | C | Brochures with schedules, ages and minimum premiums are public and dated; rates and contract minimums are not. |
| Guaranteed minimum cap | Not publicly disclosed | Zenith Growth brochures state only the 0% floor on index credits; minimum caps and participation rates are not publicly disclosed (checked October 4, 2026). |
| Overall | B- | A+ rated issuer and clear, dated brochures, set against unpublished rates and minimums and a 10-year MVA period. |
How these contract minimums compare across products: guaranteed minimum caps across FIAs (October 2026).
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Pros and cons
Pros
- Issuer and parent rated A+ (Superior) by AM Best, A+ by S&P and A1 by Moody’s, per National Life Group.
- Low minimums: $25,000 for Zenith Growth 10, and $5,000 single or $100 a month for Flex Secure Growth.
- Withdrawal charges reach 0% in year 10 on the 10-year products; Flex Secure Growth also comes in 5- and 7-year versions.
- 10% free withdrawals from year 2, plus nursing care, terminal illness and (in 403(b)/457(b) plans) Emergency Access waivers.
Cons
- No public rate sheet: caps, participation and declared rates must be requested.
- Minimum caps and participation rates are not in the consumer brochures.
- A market value adjustment applies to excess withdrawals for the first 10 policy years.
- Rate Booster’s 1% charge is deducted even in years when the index credits 0%.
- Growth Driver 10’s 10% bonus is subject to recapture for nine years.
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Who it’s for, and when to look elsewhere
Fits: a saver who wants index-linked growth with a 0% floor from an A+ rated issuer, can leave the money for about 10 years, and is willing to get the current rate sheet from an agent. Flex Secure Growth fits someone adding money over time, including through a 403(b) or 457(b) plan.
Look elsewhere if: you mainly want a known rate. A MYGA locks a declared rate for the term, and its rate is quoted up front, while these products’ caps and participation rates are not published and reset each period. For comparison, A-rated-or-better insurers were paying about 5.80% to 6.00% on 5-year MYGAs and the best nationally available 5-year CDs about 4.35% to 4.50% APY on September 24, 2026 (AnnuityRateWatch carrier data; DepositAccounts). Current rates: MYGA rates. Also look elsewhere if you live in New York (these indexed annuities are not available there) or may need more than 10% a year in the first decade.
Questions to ask your agent
- Send me the dated rate sheet for my state, and show me in writing the guaranteed minimum cap, minimum participation rate and minimum declared rate in this contract.
- Show me the withdrawal charge schedule for my state by year, how the MVA is calculated, and (for Growth Driver 10) the bonus recapture, with what I would get back if I surrendered in year 3.
- If I use Rate Booster, how much higher is the cap or participation rate, and what does the 1% charge cost me in a year when the index is down?
- What renewal caps have in-force Zenith Growth 10 contracts received after their first crediting period?
- How are you paid on this product? The commission comes from the insurer, is built into the product’s pricing and is not deducted from my premium. What percentage is it, and does the bonus version or the 10-year version pay you more? (Background: how annuity commissions work.)
From my desk
When I review a Zenith Growth 10 or Growth Driver 10 illustration, I check first whether the rates in it come from a dated rate sheet for the buyer’s state, because National Life Group does not post them publicly. Then I check whether Rate Booster is turned on. It raises the cap or participation rate, but the 1% charge comes out every period, including years when the index credits nothing.
The number buyers most often misread on these products is the “10” in the name. On both brochures the withdrawal charge reaches 0% in year 10, but the MVA applies to excess withdrawals for the first 10 policy years. On Growth Driver 10, the 10% bonus is recaptured on a separate schedule, so a year-5 surrender gives back part of the bonus as well as paying a 5% charge.
Against a MYGA I keep it simple. Hypothetical: with a MYGA you know the rate for the whole term on day one. With these products you know the 0% floor and the schedule, but not the rate until you ask, and it resets each period. If a known number is the goal, I start with the MYGA and make the indexed annuity earn its place. Run the math in the surrender charge calculator and the annuity calculator.
Related reading: how annuity crediting actually works, cap vs participation rate, getting an annuity second opinion, are annuities FDIC insured? and National Life Group life insurance review.
Frequently asked questions
Q: Is there a National Life Group Summit annuity?
A: No. National Life Group’s annuities page (checked October 4, 2026) lists Zenith Growth, Growth Driver, Zenith Income, Income Driver, Flex Secure Growth, Flex Secure Growth Bonus and Flex Select Income as its indexed annuities. None is called Summit. The closest accumulation product is Zenith Growth 10.
Q: Who issues National Life Group indexed annuities?
A: Life Insurance Company of the Southwest, Addison, Texas, a member of National Life Group. It is not an authorized insurer in New York, and these indexed annuities are not sold there.
Q: What is the Zenith Growth 10 withdrawal charge schedule?
A: 8.25%, 8%, 7%, 6%, 5%, 4%, 3%, 2% and 1% in years 1 to 9, and 0% in year 10, per brochure TC8803093(0426). An MVA applies to withdrawals above the 10% free amount during the first 10 policy years.
Q: What is the minimum premium?
A: $25,000 for Zenith Growth 10 and Growth Driver 10. Flex Secure Growth starts at $100 a month or a $5,000 single premium.
Q: What are the current caps on Zenith Growth 10?
A: National Life Group does not publish them, and the consumer brochure does not list minimum caps or participation rates. Ask for the dated rate sheet for your state and the contract minimums in writing.
Q: What does Rate Booster cost?
A: Rate Booster is optional and costs 1% a year, deducted from the accumulation value for every crediting period it is used, even when no interest is credited, per the brochures.
Q: What is National Life Group’s AM Best rating?
A: A+ (Superior) for National Life Insurance Company and Life Insurance Company of the Southwest, per National Life Group’s ratings page checked October 4, 2026 (the Zenith Growth 10 brochure shows the same rating as of May 1, 2026).
About Hans Goldstein: Independent retirement income specialist. CA Life License #4273294. NPN #20602398. Phone: 213-414-2808. Email: hans@hansgoldstein.com.
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Sources (checked October 4, 2026)
- National Life Group, Zenith Growth 10 consumer brochure TC8803093(0426), Cat No 106722(0526): ratings as of May 1, 2026
- National Life Group, Growth Driver 10 consumer brochure TC8845143(0426): ratings as of April 20, 2026
- National Life Group, Flex Secure Growth consumer brochure TC8766189(0226): checked October 4, 2026
- National Life Group, Flex Secure Growth Bonus consumer brochure TC8767086(0226): checked October 4, 2026
- National Life Group, Individuals and Families: Annuities page: checked October 4, 2026
- National Life Group, Financials and Ratings page: ratings current as of the last business day, checked October 4, 2026
Disclosure
This review is based on the carrier's public product materials and rates as of the date shown above. Annuity rates, caps, participation rates, payout factors, crediting methods, and long-term care benefit structures change often, sometimes monthly. Confirm current figures in the latest carrier disclosure and the contract before you buy. This is general education, not a personal recommendation or an offer of any product. Hans Goldstein is an independent licensed insurance producer (CA license 4273294, NPN 20602398) appointed with several A-rated carriers. His appointment with the carrier reviewed here may vary, and this review is not an endorsement. No carrier paid for this review. Always read the actual contract and consult a licensed advisor before purchasing any annuity or long-term care insurance product. Past index performance does not predict future credited interest. Annuities and hybrid life+LTC policies are long-term contracts with surrender charges; they are not suitable for funds you may need before the end of the surrender period. AM Best ratings and tax treatment are subject to change. Tax discussion of IRC §7702B, §1035, and the Pension Protection Act of 2006 reflects law as of 2026 and is subject to change.